Boralex closes acquisition of a wind energy project in France

Boralex Inc. announces the closing of the acquisition, by its subsidiary Boralex Europe S.A., of the 32 MW La Vallée wind power project (the “Project”) located in the department of Indre, France

As announced on June
5, 2012, the Project, which was initially developed by the company
Gamesa, consists of 16 Gamesa G90 wind turbines. A long term project
financing will be provided by a banking consortium made up of OSEO,
Crédit Coopératif and Crédit Mutuel ARKEA.

The signing of the
financing documents and the fulfilling of the standard closing
conditions are scheduled for mid-December 2012.

“With this
project, Boralex exceeds the threshold of 200 MW of contracted
capacity in the wind power segment in France. Despite economic
turbulence in Europe, Boralex is once again setting itself apart and
staying the course with its growth strategy in France, one of our
primary targeted markets,” states Patrick Lemaire, President and
Chief Executive Officer of Boralex.

Boralex expects the
La Vallée wind power farm to start operating by the end of 2013. All
the energy produced will be sold to Électricité de France under a
long-term contract with a 15-year term.

Boralex is a power
producer whose core business is dedicated to the development and the
operation of renewable energy power stations. Currently, the
Corporation operates an asset base with an installed capacity of more
than 500 MW in Canada, the Northeastern United States and France.
Boralex is also committed under power development projects, both
independently and with Canadian and European partners, to add over
550 MW of power that will be put in service between 2013 and 2015.
With more than 200 employees, Boralex is known for its diversified
expertise and in-depth experience in four power generation types —
wind, hydroelectric, thermal and solar. Boralex’s shares and
convertible debentures are listed on the Toronto Stock Exchange under
the ticker symbols BLX and BLX.DB, respectively. More information is
available at